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Sep 11, 2003, 7:36 pm (1 comment)
The California Lotterys $57 million jackpot was split by two winning tickets drawn Wednesday, September 10, 2003 with the winning numbers 34, 43, 27, 20, 7 and MEGA 6. The winning tickets were sold at Seacliff Plaza Store, 219 State Park Drive, in Aptos and at Kavanagh Liquors, 500 Via Mercado, in San Lorenzo. Each ticket is valued at $28.5 million and the winners have not yet claimed their prizes.
Kavanagh Liquors lucky streak continues with the fourth winning jackpot ticket sold at this location. This retailer ties for third place as one of the luckiest retailers in the California Lotterys network of more than 19,000 retailers. Kavanagh Liquors combined sales of both Scratchers and online are $6.8 million over the past five years. Past winners at Kavanagh Liquors were Balbina Parrella who split $12 million with Arturo Taguines on January 24, 1998; Josette Denton who won $3.8 million on January 7, 1989; Joaquin Santos who won $1.8 million on January 29, 2000.
Seacliff Plaza Store, another east bay area location, sold its first jackpot winning ticket. This retailers combined sales are $1,043,644 over the past five years. The new lucky winner from Seacliff Plaza Store will claim $28.5 million. A winner who chose the cash option would claim roughly half or approximately $14 million. A winner chosing the annual payments would receive $712,500 (before federal withholding of 25%) on the first year and $1.45 million for the final payment on the 26th year. There are no state taxes on lottery winnings.
Kavanagh Liquors and Seacliff Plaza Store will each receive $142,500 as a bonus for selling the winning jackpot tickets. This represents one half of one percent of the winning jackpot ticket. The California Lotterys products are sold over a retail network of over 19,000 retail locations statewide. Since 1985 the California Lottery has contributed more than $14 billion to public education.
Lottery Post Staff
If CA doesn't tax lottery winnings, why should ANYONE choose the annual payments (since the choice must be made in advance)?